Special Correspondent
Profits of two entities of the BSRM group, the largest steel maker in the country, have reported a profit fall in the October-December period (Q2) of the fiscal year 2024-25.
BSRM Limited recorded an 8% increase in revenue during the second quarter of FY25. However, its net profit declined by 33% year-on-year.
BSRM Steels saw an 18% jump in revenue, but its profit fell by 17% in the period. Its earnings per share (EPS) was Tk 2.41 for October-December 2024 as against Tk 2.90 for the same period of the previous year.
In the July-December'24 period, BSRM Steels' EPS was Tk 4.67 as against Tk 4.11 for July-December 2023.
NOCFPS was Tk15.61 for the six months of 2024 as against Tk12.86 for July-December 2023. NAV per share was Tk 81.45 as of December 31, 2024, and Tk 80.93 as of June 30, 2024.
BSRM Limited reported its consolidated EPS was Tk 2.97 for October-December 2024 as against Tk. 4.45 for the same period of the previous year.
Its consolidated EPS was Tk 6.74 for July-December 2024 as against Tk 6.25 for the same period of the previous year. Consolidated NOCFPS was Tk 31.18 for July-December 2024 as against Tk 16.11 for July-December 2023. Consolidated NAV per share was Tk 152.94 as of December 31, 2024, and Tk 150.06 as of June 30, 2024.
Market analysts attribute this decline to uncertainty in the construction sector, as government projects have slowed following the recent political transition.
Additionally, ongoing energy supply shortages and high debt costs have further strained the industry. As a result, investors are hesitant to hold these shares amid the current challenges, they added.